What is a Project?

A project is a temporary endeavor undertaken to

accomplish a unique purpose.

What is Project Management? Project management is the application

of knowledge, skills, tools, and techniques to project activities in order to
meet or exceed stakeholder needs and expectations from a project
2.A Project-Management Approach
Success or failure of an IT project depends largely on who is, or is not, part of the
project team. Applying project management principles and tools across the entire
organization, however, should be part of a methodology-the step-by-step
activities, processes, tools, quality standards, controls, and deliverables that are
defined for the entire project. As a result, project success does not depend
primarily on the team, but more on the set of processes and infrastructure in
place. A common set of toots and controls also provides a common language
across projects and the ability to compare projects throughout the organization.
In addition, other reasons for project management to support IT projects include:
Resources-:Projects must be estimated accurately, and cost and schedules must be
controlled effectively. Without the proper tools, techniques, methods, and
controls in place, the project will drain or divert resources away from other
projects and areas of the organization. Eventually, these uncontrolled costs could
impact the financial stability of the organization.
Expectations-Organizational clients expect IT professionals to deliver quality
products and services in a professional manner. Hence timely status updates and
communication, as well as sound project management practices, are required to
satisfy expectations.
Competition-Internal and external competition has never been greater. An internal
IT department's services can easily be outsourced if the quality or cost of
providing IT services can be bettered outside the organization.
Who is a Stakeholder?
A stakeholder is people or groups such as users, managers, customers etc..who
have a real interest in the project's outcome and the success of the project.
What are the Attributes of a Project?
Projects can be viewed in terms of their attributes: time frame, purpose,
ownership, resources, roles, risks and assumptions, interdependent tasks,
organizational change, and operating in an environment larger than the project
itself.
What is a Deliverable?
A deliverable is a tangible and verifiable product of work (i.e.,Business case,
project charter, reports, manuals etc). Deliverables at the end of each phase also
provide tangible benefits throughout the project and serve to define the work
and resources needed for each phase.

What are Phase exits, stage gates, or kill points?

 Phase exits, stage gates, or kill points are the phase-end review of key
deliverables that allow the organization to evaluate the project's performance
and to take immediate action to correct any errors or problems.
3.What Is Project Life Cycle? Explain
The project life cycle (PLC) is a collection of logical stages or phases that maps the life of
a project from its beginning to its end. It also helps in defining, building, and delivering
the product of a project. Projects are broken up into phases to make the project more
manageable and to reduce risk. In addition, each phase should focus on providing a
deliverable a tangible and verifiable product of work.

1. Define Project Goal

Defining the project's overall goal should be the first step of the project. This goal
should focus on providing business value to the organization. A well-defined goal
gives the project team a clear focus and drives the other phases of the project. In
addition, most projects seem to share the following characteristics: The effort, in
terms or cost and staffing levels, is low at the start of the project, but then
increases as the project work is being done, and then decreases at the end as
the project is completed. Risk and uncertainty are the highest at the start of a
project. Once the goal of the project is defined and the project progresses, the
probability of success should increase. The ability for stakeholders to influence
the scope and cost of the project is highest at the beginning of the project. The
cost of changing the scope and correcting errors becomes more expensive as the
project progresses.

2. Plan Project
Once the project's goal has been defined, developing the project plan is a much
easier task. A project plan essentially answers the following questions:
• What are we going to do?
• Why are we going to do it?  How are we going to do it?
• Who is going to be involved?
• How long will it take?
• How much will it cost?
• What can go wrong and what can we do about it?
• How did we estimate the schedule and budget?
• Why did we make certain decisions?
• How will we know if we are successful?
In addition, the deliverables, tasks, resources, and time to complete each task
must be defined for each phase of the project. This initial plan, called a baseline
plan, defines the agreed upon scope, schedule, and budget and is used as a tool
to gauge the project's performance throughout the life cycle.

3. Execute Project Plan

After the project's goal and plan have been defined, it's time to put the plan into
action.
As work on the project progresses, scope, schedule, budget, and people must be
actively managed to ensure that the project achieves its goal. The project's
progress must be documented and compared to the project's baseline plan. In
addition, project performance must be communicated to all of the project's
stakeholders. At the end of this phase, the project team implements or delivers a
completed product to the organization.

4. Close Project
As was mentioned, a project should have a definite beginning and end. The
closing phase of a project ensures that all of the work is completed as planned
and as agreed to by the project team and the sponsor. Therefore, there should be
some kind of formal acknowledgement by the sponsor that they will accept the
product delivered. This closure is often capped with a final project report and
presentation to the client that documents that all promised deliverables have
been completed as specified.

5. Evaluate Project
Sometimes the value of an IT project is not readily known when the system is
implemented. The project team should document its experiences in terms of
lessons learned-those things that it would do the same and those things it would
do differently on the next project, based on its current project experiences, This
post mortem should be documented, stored electronically, and shared
throughout the organization. Subsequently, many of these experiences can be
translated into best practices and integrated into future projects. In addition,
both the project team and the project itself should be evaluated at the end of the
project.

What is an Internal Risk?

All projects have an element of risk, and some projects entail more risk than
others. Risk can arise from many sources, both internal and external to the
project team. Internal risks may arise from the estimation process or from the
fact that a key member of the project team could leave in the middle of the
project.
What is an External risk?
All projects have an element of risk, and some projects entail more risk than
others. Risk can arise from many sources, both internal and external to the
project team. External risks, on the other hand, could arise from dependencies
on other contractors or vendors.
What is Risk Assumption?
Assumptions are what we use to estimate scope, schedule, and budget and to
assess the risks of the project. There are many unknown variables associated
with projects, and it is important to identify and make explicit all of the risks and
assumptions that can impact the IT project.
What are Interdependent Tasks?
Project work requires many interdependent tasks. For example, a network
cannot be installed until the hardware is delivered, or certain requirements
cannot be incorporated into the design until a key user is interviewed.
Sometimes the delay of one task can affect other subsequent, dependent tasks.
The project's schedule may slip, and the project may not meet its planned
deadline
What Is a Business Case?
Although organizations have increasingly turned to information technology to
improve effectiveness and levels of efficiency, many projects have been
undertaken without a thorough understanding of their full costs and risks. As a
result, numerous IT projects have failed to return benefits that compensate
adequately for the time and resources invested. A business case provides the
first deliverable in the IT project life cycle. It provides an analysis of the
organizational value, feasibility, costs, benefits, and risks of several proposed
alternatives or options. However, a business case is not a budget or the project
plan.
.

IT Project Infrastructure
Three infrastructures are needed to support the IT project. These include:
1. An organizational infrastructure-The organizational infrastructure
determines how projects are supported and managed within the
organization. The organizational infrastructure influences how project
resources are allocated, the reporting relationships of the project manager
and the project team members, and the role of the project within the
organization.
2. A project infrastructure-The project infrastructure supports the project
team in terms of the project environment and the project team itself. It
includes:
• Project environment-The physical workspace for the team to
meet and work.
• Roles and responsibilities of the team members- -
• Processes and controls-Processes and controls provide support
for managing all aspects of the project.
3. A technical infrastructure-The technical infrastructure provides the
hardware and software tools to support the project team. It may include
such things as project management software, e-mail, voice mail, word
processing, access to the Internet, and so on. The technical infrastructure
allows the project team to do its work.
Components of a Project Charter
• Documenting the Project’s MOV-Although the project's MOV was included
in the business case, it is important that the MOV be clearly defined and
agreed upon before developing or executing the project plan.
• Defining the Project Infrastructure-The project charter defines all of the
people, resources, technology, methods, project management processes,
and knowledge areas that are required to support the project. In short, the
project charter will detail everything needed to carry out the project.
• Summarizing the Details of the Project Plan-The project charter should
summarize the scope, schedule, budget, quality objectives, deliverables,
and milestones of the project. It should serve as an important
communication tool that provides a consolidated source of information
about the project that can be referenced throughout the project life cycle.
• Defining Roles and Responsibilities-The project charter should not only
identify the project sponsor, project manager, and project team, but also
when and how they will be involved throughout the project life cycle.
• Showing Explicit Commitment to the Project- The project charter should detail the
resources to be provided by the project sponsor and spec ify clearly who will take
ownership of the project's product once the project is completed
• Setting Out Project Control Mechanisms-Changes to the project's scope, schedule,
and budget will undoubtedly be required over the course of the project. But, the
project manager can lose control and the project team can lose its focus if these
changes are not managed properly. Therefore, the project charter should outline a
process for requesting and responding to, proposed changes.
What should be in a Business Charter? Or Framework of a Project Charter
1. Project Identification: It is common for all projects to have a unique name or a way
to identify them. It is especially necessary if an organization has several
projects underway at once. Naming a project can also give the project team
 and stakeholders a sense of identity and ownership. Often organizations will
use some type of acronym for the project's name.
2. Project Stakeholders: It is important that the project charter specifically name the
project sponsor and the project manager. This reduces the likelihood of
confusion when determining who will take ownership of the project's product
and who will be the leader of the project. In addition, the project team should
be named along with their titles or roles in the project, their phone numbers,
and e-mail addresses.
3. Project Description: The project charter should be a single source of information.
Therefore, it may be useful to include a description of the project to help
someone unfamiliar with the project understand not only the details, but the
larger picture as well. This may include a brief overview or background of the
project
4. Measurable Organizational Value (MOV): The MOV should be clear, concise, agreed
upon, and made explicit to all of the project stakeholders. The MOV should be
highlighted and identifiable in the project charter.
5. Project Scope: The project's scope is the work to be completed. A specific section
of the project charter should clarify not only what will be delivered by project
team, but also what will not be part of the project's scope.
6. Project Schedule Although the details of the project's schedule will be in the
project plan, it is important to summarize the detail of the plan with respect
to the expected start and completion dates. In addition, expected dates for
major deliverables, milestones, and phases should be highlighted and
summarized.
7. Project Budget: A section of the project charter should highlight the total cost of
the project. The total cost of the project should be summarized directly from
the project plan.
8. Quality Issues: Although a quality management plan should be in place to
support the project, a section that identifies any known or required quality
standards should be made explicit in the project charter.
9. Resources: Because the project charter acts as an agreement or contract, it
may be useful to specify the resources required and who is responsible for
providing those resources. Resources may include people, technology, or
facilities to support the project team.
Assumptions and Risk: Any risks or assumptions should be documented in the project
charter.